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Property profile & analytics
OFF-MARKET
Estimated value
$4,760,000
Office buildings
1701 Tw Alexander Dr, Durham, NC 27703-9252
Individually Owned
3-yr Hold
Free & Clear
Property ID
US53-1060284
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2012
Total area
16,630 SF
Lot
6.18 ac (269,201 SF)
Zoning code
IP
APN
157301
UPID
US53-1060284
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Apex School of Theology Religious School
-
Triangle School of Theology High School Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.94M
CAP Approach
CAP
$4.22M
Comparable Approach
Comparable
$5.55M
Blend (final)
Blend
$4.76M
Owner & transaction history
Goodwill Industries Of Eastern Nc I · 3 yrs held
Goodwill Industries Of Eastern Nc I
since 2023
Last sale
$4.3M
3 recorded transactions
Zoning & alternative use
IP · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.1M
+86.9%
Auto repair, garage
$4.9M
+27.7%
Apartment house (5+ units)
$4.4M
+16.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Durham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Durham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,325,000
ML approach
$4,935,000
CAP Approach
CAP Return
Estimation
6%
$4,565,000
6.5%
$4,215,000
7%
$3,915,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,800,000
Current use
RESTAURANT
$7,095,000
Change: +87% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,850,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,435,000
Change: +17% · Conversion: Easy
RETAIL STORES
$4,085,000
Change: +8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,040,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$4.76M
Range $4.28M – $5.24M · ±10% · vs last sale $4.27M (Mar 15 2023)
Last sale anchor
$4.27M
Mar 15 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$286 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$44,858
Tax year 2024
Assessed value
$3,424,559
Assessed 2024
Previous assessed
$3,424,559
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$783,225
Assessed improvement
$2,641,334
Land market value
$783,225
Improvement market value
$2,641,334
Total market value
$3,424,559
Applied tax rate
55.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2012
Heating
YES
Cooling
YES
Stories
1
Total area
16,630 SF
Lot
6.18 ac (269,201 SF)
Zoning code
IP
APN
157301
UPID
US53-1060284
Jurisdiction
DURHAM
Zoning & alternative use
IP · Durham, NC
Zoning IP · permitted uses
IP · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Durham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.8M
RESTAURANT
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$4.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
RETAIL STORES
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$4.0M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Heating
YES
Cooling
Yes
Stories
1
Lot
6.18 ac
Current owner
From public records · entity-resolved
Goodwill Industries Of Eastern Nc I
Individual
Free & Clear · 3 yrs held
Mailing address
1701 TW ALEXANDER DR, DURHAM, NC 27703-9252
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2023
$4,271,500
Goodwill Industries Of Eastern Nc I
Apex School Of Theology
Special Warranty Deed
—
Jan 25, 2011
—
Apex School Of Theology
Triangle Park Raleigh Pip LP
Grant Deed
—
Jan 25, 2011
$700,000
Apex School Of Theology
Triangle Park Raleigh Pip LP
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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